With all the confusion surrounding the Affordable Care Act (Obama Care), there is one question I keep hearing (I will paraphrase as the question is asked many different ways). “Who will pay for my medical care?” Please notice the word ‘who’. Even television insurance advertisements ask the question “Who will pay?” Never, “How will I pay?”

A simple solution to this major problem does exist, and has been proposed (in one form or another) by many fiscal conservatives for years. Now it’s time to take another look at this extremely simple solution.

A Medical Savings Account.

It goes like this: Whatever Obama Care says your Health Insurance Premium should be, you will be required [by Law] to deposit that amount [monthly] into your mandatory Health Savings Account. You will be paying the premium anyway, why not into your own account rather than give it to an insurance company? And, like all Saving Accounts, it earns Interest. Some will say, “With this plan I can’t get sick for three years – before it will be able to pay for my medical needs.” ▬► I say, “NOT TRUE!” For new accounts with few deposits, the Government can guarantee that the account is able to pay-out an amount equal to five years of monthly premiums (deposits).

The average middle-middle income in the US is $52,000.00 (give or take), and let’s say your monthly premium for ‘Gold’ coverage is $1,000.00 per month. This is 23% of your income, and yes, I know this is high – let’s hope it will actually be lower, on average, for the majority of Tax paying wage earners. The above example will yield the following results: At the end of the first year you will have saved $12,000.00, and with the Government guarantee you can cover up-to $60,000.00 in medical expenses.

Yes, it’s that simple, and you are not supporting Insurance Companies. This will not put them out of business as they will still offer Auto, Home, Business, Life, etc. insurance, as well as major catastrophic medical insurance for those wishing additional coverage. With the example presented, during the first five years you will have a guaranteed account that should be more than enough to cover most, if not all of your medical expenses, and since this is YOUR MONEY, you will be less likely to spend it in any frivolous manner.

The money in your Medical Savings Account will be for medical expenses ONLY, and will not be available for any other need. From day one, and all the way to your 70th year, your Medical Savings Account will pay your medical expenses. At age 70 you will qualify for Social Security and be covered by Medicare. At that time your Medical Savings Account will convert to a regular Savings Account – your retirement will be financially secure. → Let’s say you started at age 20. By your 70th birthday you will have saved $600,000.00 plus interest and less any medical expenses. Look, you are going to pay a Health Insurance Premium anyway, why not pay it to your own account?

Additional problems need to be addresses like Tort Reform (put an end to endless, stupid law suits), and the ability for ALL Insurance Companies to be able to sell their products in all 50 states – let’s put an end to special interest minorities imposing extra burdens on the majority (IF YOU DON’T EARN IT, YOU DO NOT HAVE A RIGHT TO IT – simple as that). The rest of us work for our income, why should we give some of it to you just because you are too lazy to get a job? Special needs, because of special circumstances will always be covered, but the rest of you can earn your own way, or suffer the consequences of your own actions (or inactions) – you must earn your own way and stop relying on others to take care of you – we won’t, not any more.